April 21, 2024

Today’s surge in the price of RON has caught the attention of the cryptocurrency market, with the Ronin token going up by more than 200% in the last month.

In its first nine months, Ronin has racked up 250,000 unique daily active addresses, $5 billion in total value locked (TVL), over 2 million wallet downloads, and 15% of all NFT transactions on the market.

Its DEX Katana is the second-most popular decentralized exchange by weekly active users and allows for millions of in-game transactions.

Ronin: Gaming Blockchain Thrives Amidst Market Turmoil

Ronin (RON) is a blockchain designed for gaming that has gained significant traction in the cryptocurrency market. Launched by Sky Mavis, the creator of Axie Infinity, Ronin is tailored to optimize near-instant transactions and negligible fees, making it an ideal choice for Web3 games.

At the time of writing, RON was down a measly 0.2% in the last 24 hours, however it sustained an impressive 20% rally in the last seven days, emerging as the lone survivor in today’s crypto carnage, data from Coingecko shows.

A look at the chart shows the top 10 cryptocurrencies bathed in crimson, with Bitcoin leading the top losers with a nearly 7% loss. Down below, in the 98th spot, is Ronin with a solid gain in the weekly timescale.

Source: Coingecko

In the face of broader fluctuations and uncertainties within the cryptocurrency landscape, RON has not only weathered the storm but has also demonstrated a noteworthy ascent in value.

This commendable performance positions it as an outlier, defying the broader trends that have impacted various digital assets. Investors and observers alike may find solace in the relative stability and positive trajectory exhibited by RON during a time when many other cryptocurrencies experience heightened volatility.

RON showing a strong performance in the weekly timeframe. Source: Coingecko

However, it’s important to note that the cryptocurrency market remains inherently unpredictable, and the coming weeks and months promise to be compelling for Ronin followers eagerly awaiting the cryptocurrency’s next moves.

RON currently trading at $2.29908 on the daily chart: TradingView.com

Ronin Blockchain Crypto Wallet Update

Meanwhile, Sky Mavis has revealed an update for the cryptocurrency wallet on the Ronin blockchain. Support for multi-party computation (MPC), an in-app web browser, multichain support, and a redesigned look are among the new features.

Currently supported by the Ronin wallet are Polygon, Ethereum, and Binance’s BNB Chain. With the most recent update, customers can utilize a single wallet to manage and move assets across many blockchain networks.

Users can access decentralized apps (dApps) and communicate with blockchain-based services straight from the wallet using the latest Ronin wallet version’s in-app web browser.

Featured image from Shuttertsock

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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